Living Outside Big Cities Could Save Scots a Fortune, Say Bank Researchers

  • John Baird -
  • 25th October 2018 -
  • 2 minutes to read

Living outside and commuting in and out of Glasgow or Edinburgh could save Scots many thousands of pounds in house price costs over the course of their working lives.

That’s according to research looking into the subject carried out by the Bank of Scotland, which says significant savings can be made through buying a place to live outside one of the country’s two biggest cities rather than within them.

In the context of Edinburgh and its surrounding areas, buying a property that’s a 30-minute journey away from the city centre could be around £80,000 less expensive than buying one in a more central district.

Meanwhile, buying a house in somewhere like Paisley, around a 15-minute journey from central Glasgow, could save someone as much as 29 per cent in house price costs compared to a similar property and investment in the city centre.

Although, in the case of Glasgow, commuting for close to an house is more likely to leave you in a location where property prices are actually more rather than less expensive on average than they are in central parts of Glasgow.

The Bank of Scotland says that the discrepancies in property prices between different areas within and outside major Scottish cities makes commuting to and from work in the Edinburgh and Glasgow regions a cost-effective way to save money and limit the scale of your mortgage debts.

“Many people have a desire to buy near their place of work to escape the morning commute,” said Graham Blair, director of mortgages at the Bank of Scotland.

“However, for some towns and cities, the premium this comes with can price out the average buyer.

“With savings of £80,000 to be gained an hour outside of Edinburgh, and £50,000 just 15 minutes from Glasgow, it is an attractive pull for any potential purchaser to look further afield.”

If you live anywhere in Scotland and you’re struggling to cope with your personal debts for any reason then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.

John Baird
John Baird
Partner
About

Why Choose Us

5 Offices in Scotland
5 Offices in Scotland
National Coverage
Ask us About
Ask us About
We Do Home Visits
Helping Scots Get
Helping Scots Get
Out of Debt Since 1989
We offer a
We offer a
Free Initial Consultation
We'll Help You
We'll Help You
Lower Monthly Payments
You'll Get
You'll Get
Peace of Mind

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

When should we call?
Can we leave a message?
Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.
Tools

Useful tools

Personalised Debt Report

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Free Scheduled Call

Free Scheduled Call

 Arrange a call with an expert advisor at a time to suit you.

Find a Local Office

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

Close Menu Share with a Friend

Send this page to a friend

via Whatsapp via Messenger via Messenger via Email
Make sure you have WhatsApp installed.

Copy link to clipboard
Close